Virinchi surges on back of expansion plan

The stock of Virinchi surged as the company announced the start of expansion work at Banjara Hills healthcare facilities in Hyderabad.

At 10:28 hours, the stock of Virinchi Limited was trading at Rs. 108.00 per share, 5.01 per cent on Friday.

Presently, the company's flagship hospital operates with 550 beds of which 350 beds are at Banjara Hills and 200 at smaller facilities. Through its Phase 2 expansion plan, the company has launched a project to provide low-price service for the government of India's Ayushman Bharat initiative. The project also includes a full-service Oncology Department. The expanded facility would include 150 economy and 100 oncology beds.

Post the completion of Phase 2 expansion, Virinchi's Banjara Hills facility will house 800 beds and provide health services through 40 departments.

Virinchi is a popular micro-cap stock. The company reports good Q4FY18 results with revenue of Rs. 44.46 crore, compared to Rs. 43.48 crore in Q4FY17. The company's net profit was at Rs. 4.67 crore in Q4FY18 as compared to Rs. 4.45 crore in Q4FY17. For the full year FY17-18, the company registered revenue of Rs. 172.01 crore, with a net profit of Rs. 17.38 crore.